Deloitte Unveils 2022 North America Technology Fast 500 Rankings

The software and services industry categories continue to dominate the list, but the growing life sciences category makes for an interesting show on the 28Th annual ranking of the fastest growing businesses

SAN FRANCISCO, November 16, 2022 /PRNewswire/ — Deloitte today released the “North America Technology Fast 500,” its annual ranking of the fastest growing North American companies in the technology, media, telecommunications, life sciences, fintech, and energy technology sectors, now in its 28th year.Th year.

The 28th annual Deloitte North America Technology Fast 500 by industry.

The 28th annual Deloitte North America Technology Fast 500 by industry.

The Technology Fast 500 awardees are selected based on the percentage of revenue growth in fiscal years from 2018 to 2021. Overall, the 2022 Technology Fast 500 companies achieved revenue growth ranging from 241% to 125,138% over a three-year period, with a median growth rate of 611%.

“As the past year has shown us, innovation in important areas such as life sciences is essential to tackling infectious diseases and other global health problems,” he said. Paul Silverglate, vice chair, Deloitte LLP and leader of the US technology sector. “In addition, technology must keep pace with the ever-changing demands of consumers and companies for fast, safe and more efficient solutions for new societal challenges. Every year we are amazed by the enormous talent that the Technology Fast 500 rankings show, confirming the winners’ pursuit of creativity and the ability to solve real-world problems that benefit us all.”

The Top 10 Fast 500 Technologies include:

2022
Ranked

company

sector

Income growth

(2018 to 2021)

City, Province

1

Vir Biotechnology, Inc.

The science of life

125.138 %

San Francisco, Calif.

2

Takeoff Technologies, Inc.

Software and services

53.250%

Waltham, Mass.

3

Axonius

Software and services

46.270 %

New York, NY

4

Axonics, Inc.

The science of life

25.401%

Irvine, California.

5

VAST data

Software and services

14.985 %

New York, NY

6

Modern

The science of life

13.575 %

Cambridge, Mass.

7

Flock Security

Software and services

13.117 %

Atlanta, Ga.

8

Corvus Insurance

Fintech

12.394 %

Boston, Mass.

9

Liquid truck

Energy technology and sustainability

9.899%

Denver, Colo.

10

Vontive

Fintech

9.154%

Seattle, Wash.

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California Bay Area tops regional representation
Deloitte Technology Fast 500 winners represent more than 38 states and provinces across the country North America. California’s The Bay Area has an impressive showing on this year’s list leading regional representation with 20% of the Fast Technology 500 winners, of which 64% are from the software and services category. The Tri-State area is represented by 12% of the leading companies; New England by 6%, with 62% of our region’s winners representing the new category of life sciences; Greater Washington, DC, Washington Stateand Texas accounted for 5% of each winning company.

Below is a summary of the 2022 ranking by region with a significant concentration of winners:

LOCATIONS

Percentage List

Fastest-Growing Company

in the Region

Overall Company
Ranked

Dominating the Sector

in Location

The Bay Area

20%

Vir Biotechnology, Inc.

1

Software 64%

Tri-State Area

12%

Axonius

3

Software 66%

New England

6%

Takeoff Technologies, Inc.

2

Life Sciences 62%

Greater Washington, DC

5%

capsize

88

Software 71%

Washington State

5%

Vontive

10

Software 62%

Texas

5%

OJO Labs

93

Software 86%

Software and services dominated for 27 consecutive years
Software and services companies once again topped this year’s Fast Technology 500 list, representing the majority of winners for the 27th straight year (61%). Of the software and services companies on the list, digital platforms represented the majority of winners (49%) with enterprise infrastructure and productivity accounting for 30% of the winners. Security (13%), consumer software (6%) and education (2%, with a new subsector category for this year), including the remaining subsectors in software and services. Life sciences and fintech rounded out the top three industry categories with 19% and 9% of the total winners respectively.

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Venture capital backing continues to be a leading strategy in the 2022 Technology Fast 500 rankings, with 84% of listed companies backed by venture capital or private equity funding at some point in their company’s history, up from 81% last year.

Technology Fast 500 by industry sector:

sector

percentage

Sector leader

Median Income Growth
(2018 to 2021)

Software and services

61%

Takeoff Technologies, Inc. (#2)

611%

The science of life

19%

Vir Biotechnology, Inc. (#1)

613%

Fintech

9%

Corvus Insurance (#8)

611%

digital content / media / entertainment

4%

Gift Choice (#48)

557%

Hardware and semiconductors

4%

Syntiant Corp. (#46)

563%

Energy technology and sustainability

2%

Liquid Truck (#9)

745%

Communication / networking

1%

Discord (#77)

590%

“This year’s Tech Fast 500 list is a true reflection of some of today’s most determined and inspiring pioneers who have prospered by anticipating what’s next, understanding what it takes to succeed and driving creativity forward,” he said. Christie Simmons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications in Deloitte’s audit and assurance practice. “Representing all facets of technology, the winners have shown they not only have a vision but can also expertly manage their companies through rapid growth. We congratulate each winner on their impressive achievements.”

For additional details on Fast 500 Technology, including a complete list and eligibility criteria, visit www.fast500.com. Connect with us on Twitter: @DeloitteTMT; #Fast500 or on LinkedIn at: @PaulSilverglate; @ChristieSimons.

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About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500.® and more than 7,000 private companies. Our people come together for the greater good and work in industry sectors that drive and shape today’s markets – delivering measurable and lasting results that help strengthen public confidence in our capital markets, inspiring clients to see challenges as opportunities to transform and flourish, and help. lead the way to a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that matter most to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 415,000 people worldwide connect for impact at www.deloitte.com.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, an English private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are separate and legally independent entities. DTTL (also called “Deloitte Global”) does not provide services to clients. in United StatesDeloitte refers to one or more DTTL US member firms, related entities operating under the name “Deloitte” in United States and their respective affiliates. Certain services will not be available to certify clients in public accounting rules and regulations. Please see www.deloitte.com/about to learn more about our global network of member firms.

Industry subsector breakdown of Deloitte's 28th annual North America Technology Fast 500.

Industry subsector breakdown of Deloitte’s 28th annual North America Technology Fast 500.

As used in this document, "Deloitte"  means Deloitte LLP.  Please see www.deloitte.com/us/about for a complete description of the legal structure of Deloitte LLP and its subsidiaries.  Certain services will not be available to certify clients in public accounting rules and regulations.  (PRNewsFoto/Deloitte)

As used in this document, “Deloitte” means Deloitte LLP. Please see www.deloitte.com/us/about for a complete description of the legal structure of Deloitte LLP and its subsidiaries. Certain services will not be available to certify clients in public accounting rules and regulations. (PRNewsFoto/Deloitte)

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